Turkey’s hot rolled coil (HRC) prices have continued to fluctuate this week and the price levels have slightly softened, following the upward movement earlier this week. In fact, local suppliers could not stick to the earlier announced higher targets, while Chinese sellers have stepped down in their prices as well.
Import offers from China have rolled back, following a rebound seen early this week. The latest HRC Q195 offers have been reported at $605-610/mt CFR for September shipments, down from $615-620/mt CFR earlier. Traders report $600/mt CFR levels may be accepted as a firm bid for 30,000-40,000 mt orders.
In addition, the lowest offers from India are said to be at $630/mt CFR, while South Korea and Egypt are both offering at as high as $660-665/mt CFR for September shipments. According to sources, around 10 days ago at least 15,000 mt of HRC have been booked from South Korea at $610/mt CFR but for a specific grade, not subject to AD tax.
In the domestic market in Turkey, some price softening has been seen as well. According to sources, the workable levels have again rolled back to $640-660/mt ex-works base, although the official offers are still at $660-670/mt ex-works depending on the supplier.